Home Insurance in Alaska
Finding homeowners insurance in Alaska can be a challenging process if you are unsure what to look for or how to get a good price. You know just how important home insurance is and you need to meet Alaska homeowners requirements. Yet, getting cheap homeowners insurance can be just as important. How do you balance it all? Here’s what you need to know about insurance.
Home Insurance Companies in Alaska
To get started, you need to find the best home insurance companies in Alaska to work with. Learn about their financial stability, comprehensive plans, and features. The top rated homeowners insurance companies in Alaska are not always the largest and some of the smallest offer competitive rates. Speak to homeowners insurance agencies in Alaska about your home and your coverage needs. Independent insurance agents in Alaska may be best to turn to because they represent more than one insurer.
How to Get the Best Rates for Home Insurance in Alaska
Who should you call? Enter your zip code here. You’ll then have access to a list of insurers that provide coverage to Alaskan homes.
<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>
How Much Does Homeowners Insurance Cost in Alaska?
The average annual premium in Alaska is $982. That is below the national average of $1,173, but some people may qualify for the cheapest home insurance in Alaska if they meet specific requirements. To find out how much you’ll pay, though, your home’s unique features need to be considered. Home insurance quotes in Alaska can help you do that.
<twitter>The average annual premium in Alaska is $982. That is below the national average of $1,173, but some people may qualify for the cheapest home insurance in Alaska if they meet specific requirements.</twitter>
List of Homeowners Insurance Companies in Alaska
To find those costs, enter your zip code above. You will get a fast, free list of all of the insurers available to you in your area.
How Homeowners Insurance Is Calculated in Alaska
To give you a price, your insurance company needs to know as much as possible about your home. Specifically, they want to know what risks are present that could lead to claims. Some of those features are unique to your home. Others are based on your community. Here’s a look at some key factors.
<qa>1;Crime;Crime is a key concern in Alaska. A violent crime here occurs 8.29 times for every 1,000 people. That is over the national rate of 4. More specific to insurance, though, is the property crime rate. The national average is 24 per 1,000 properties. In Alaska, the property crime rate is 35.42, one of the highest in the country.</qa>
<qa>2;Weather/Climate;The climate extremes in Alaska include extreme temperature and coastal flooding. Storms are less common. That can help to keep the overall cost of insurance lower.</qa>
<qa>3;Home Values;Home values in Alaska are a bit over the national average. The median home value in the state as of March of 2019 is $305,800. Your home’s individual value is important, though.</qa>
Home Insurance Requirements in Alaska
It’s up to you to learn as much as you can about insurance before you buy a policy. You can ask your agent, but here are some key details to get you started.
Is Homeowners Insurance Required in Alaska?
The state’s laws do not require you to have insurance on your home in Alaska. However, your lender will. If you have a mortgage on your home, that’s going to lead to a requirement to maintain comprehensive home insurance. Without it, you could lose your home through a forced sale under state law.
What Does Home Insurance Cover?
Home insurance in Alaska covers both the structure and lawsuits filed against you for liability claims. Alaska property insurance protects you from losses related to things like fire, theft, storms, and vandalism. It gives you coverage for possessions that are lost or ruined in a covered event, too.
Homeowners Insurance for New Properties in Alaska
New homes in Alaska are going up, and with that comes the need for home insurance for new construction. Be sure to invest - it protects your investment at its highest value. It is not a legal requirement, but your lender will require it.
Homeowners Insurance for Old Properties in Alaska
For older properties, some owners decide not to renew their coverage. This can be a mistake. A fire from old electrical systems or damaged roofs from storms can still occur, causing thousands of dollars in losses.
Renters Insurance in Alaska
State law doesn’t require you to maintain renter’s insurance. However, if you rent an apartment, home, or condo, your landlord is allowed to require you to carry this insurance.
Renter’s insurance is very affordable, usually under $20 a month in Alaska. It protects your possessions and liability claims. These are not protected by your landlord’s policy.
<zipcode>Compare Renters Insurance in Alaska</zipcode>
Compare Home Insurance in Alaska by City
It’s best to compare home insurance quotes for your particular home from multiple insurers. However, to find the cheapest home insurance in Alaska, you may want to consider how your community impacts your home’s coverage costs. Here’s a look at the largest cities.
<qa>1;Home Insurance Quotes in Anchorage, Alaska;This beautiful community on the waterfront has 174,431 residents, the highest in the state. Home values here are high at $331,000 on average.</qa>
<qa>2;Home Insurance Quotes in Fairbanks, Alaska;Known for its quality of life, there are 22,645 people living in Fairbanks. This is the second largest city in the state. This beautiful area is also moderately priced for the state with a median home value of $246,700.</qa>
<qa>3;Home Insurance Quotes in Juneau, Alaska;Tourism here is popular, but it’s also home to 19,528 people. Home values here are growing due to the new construction. The median value is $384,100.</qa>
<qa>4;Home Insurance Quotes in Sitka, Alaska;This up-and-coming community is still very small with about 7,803 people calling it home. Home values here are higher due to the limited options. The median home value is $372,000.</qa>
<qa>5;Home Insurance Quotes in Kenai, Alaska;A natural wonderland, there are 4,324 people living in the community of Kenai. Home values in this community are $228,300 on average.</qa>
Bonus: Most Expensive Homes in Alaska
You may want to get the lowest price insurance. However, would you like to pay for home insurance on these expensive homes in the state?
- 101 E. 9th Street in Anchorage is valued at $10 million and is less than 2000 square feet in the heart of the city.
- The home at 74200 Alaskan Oceanside Paradise in Anchor Point is valued at $3.9 million.
- Or the spacious home at 23692 Holstein Avenue in Wasilla is valued at $3.626 million.